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Oct 1, 2012
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my observation on the defense companies feeling the hate from the obama administration on the timing of potential job cuts. wait until you hear the details of what's happening now. >>> up next, what will move your money first thing tomorrow morning? three of wall street's top money pros here tell you what they're watching, on the other side of this break. stay with us. ♪ [ man ] when i'm in my zone... every move i make is a statement... ♪ ...that inspires me to make my mark. ♪ [ male announcer ] the all-new lexus es 350. ♪ >>> all right, welcome back, 30 seconds on the clock, our next guest telling us what they think will move the markets tomorrow morning. we get right to it right now. ubs, steven nicholas, and good to have you on the program, everybody. let's kick it off with you, what are you looking at tomorrow? 30 seconds on the clock. >> well, if you're watching emerging markets, look out for brazil industrial production tomorrow morning at 8:00 a.m. probably mark the 12th straight month of contracting ip, going back to last september. this probably is most importantly f
my observation on the defense companies feeling the hate from the obama administration on the timing of potential job cuts. wait until you hear the details of what's happening now. >>> up next, what will move your money first thing tomorrow morning? three of wall street's top money pros here tell you what they're watching, on the other side of this break. stay with us. ♪ [ man ] when i'm in my zone... every move i make is a statement... ♪ ...that inspires me to make my mark. ♪ [...
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Sep 25, 2012
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about five to two americans pick obama. that may be part of the reason for obama's support here. another fascinating issue here is obama looks to have neutralized what would normally be a republican edge on the issue of taxes. who will increase your taxes? 45% of the public says obama. 42% say romney. you can see the reverse here on income groups. poorer people think that obama will not raise their taxes. they think romney will. the reverse when it comes to wealthier people. this is interesting. one other thing i want to show you is change in racial support. latinos, compared to our june survey, more support for obama on the economy. african-americans overwhelming support. romney is winning the independent vote, but not in enough numbers to overwhelm this huge advantage that obama has among non-whites. you can read all about this from our exclusive all-america survey at cnbc.com. don't miss it. >> all right. we will not. stick around there, steve. more reaction to all this right now. >> we bring in peter bookbar as well as christopher wayland. chris chris, are you surprised this
about five to two americans pick obama. that may be part of the reason for obama's support here. another fascinating issue here is obama looks to have neutralized what would normally be a republican edge on the issue of taxes. who will increase your taxes? 45% of the public says obama. 42% say romney. you can see the reverse here on income groups. poorer people think that obama will not raise their taxes. they think romney will. the reverse when it comes to wealthier people. this is...
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Sep 24, 2012
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mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? we're sitting on a bunch of shale gas. there's natural gas under my town. it's a game changer. ♪ it means cleaner, cheaper american-made energy. but we've got to be careful how we get it. design the wells to be safe. thousands of jobs. use the most advanced technology to protect our water. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ >>> it is time! it's time for the "lightning round." are you ready? start the lightning round. going to start with cory in arkansas. cory? >> caller: hey, orange county, but close enough. longtime listener, first time caller. >> okay. >> caller: i'm interested in taking a long position in tsla. >> too dicey. too dicey. no, no, no. this is just a very overvalued stock. i'm not going to recommend it. let's go to bo
mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? we're sitting on a bunch of shale gas. there's natural gas under my town. it's a game changer. ♪ it means cleaner, cheaper american-made energy. but we've got to be careful how we get it. design the wells to be safe. thousands of jobs. use the most advanced technology to protect our water. billions in...
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Sep 25, 2012
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i remember the first couple of months of the president obama's administration. i ran to the bit, too many things happening too fast. first t.a.r.p., auto industry, stimulus, home modification and the deficits are going up, up, up. so i blew a valve on it. what would it be like to have this president with a lame duck scenario where he has no governor, where he can do without the notion that he has to get re-elected again. do you see this as a big market issue, in terms of dividend taxes, obama care, taxes and higher fees there? >> i most certainly do. i think he's going to try to push his agenda. some people want to look back too the clinton years when he lost big time in the midterms just as obama did. >> november '93. >> clinton gave ground. obama has given no ground. i don't know there's any indication he'll give any ground this time. that's a big mistake if that's the case. i hope not. but it appears that's a real possibility. >> how times have changed. i thought mitt romney had a bit of a -- he could do a bit of a "saturday night live" skit, he had some good
i remember the first couple of months of the president obama's administration. i ran to the bit, too many things happening too fast. first t.a.r.p., auto industry, stimulus, home modification and the deficits are going up, up, up. so i blew a valve on it. what would it be like to have this president with a lame duck scenario where he has no governor, where he can do without the notion that he has to get re-elected again. do you see this as a big market issue, in terms of dividend taxes, obama...
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Sep 25, 2012
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mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. >>> as the cloud peaked? even though everything related to the personal computers, still have a couple of themes going. last night rht open source softwa software company reported that many analysts were disappointing. billings came in light rising 15% every year. and management had to reduce the four year revenue. when you look at it like that. you can understand why the stock got hit today. 4.28%. it was a down day here. it doesn't look like anything is wrong with it. when you look at the numbers, th
mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they...
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Sep 25, 2012
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call it 5-2 in favor of obama. who would you want to coach your favorite sports team in a championship game? looking for a piece of -- people's sense of leadership there, again, about 5-2 in favor of obama. so it seems to me like there's good ferment here for romney to sell something but he is not able to close the deal with the american public. i think there's something that, again, our survey, guys is all adults because it is a financial economic sur strain, is not voters but maybe this gives you an idea where the electorate is heading as well. >> you really can't underestimate the likability aspect, would you like to have a beer with this guy? i want to ask you, steve, you are a guy that puts rhyme into reason and you have your economic cap on here, when you look at some of these seemingly conflicting results from the survey, steve, how do you explain it? >> i think -- sitting down here. >> yes, please join us here at the table. >> by the way if that is your economic cap, you need a new hatmaker, my friend. >> l
call it 5-2 in favor of obama. who would you want to coach your favorite sports team in a championship game? looking for a piece of -- people's sense of leadership there, again, about 5-2 in favor of obama. so it seems to me like there's good ferment here for romney to sell something but he is not able to close the deal with the american public. i think there's something that, again, our survey, guys is all adults because it is a financial economic sur strain, is not voters but maybe this gives...
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Oct 2, 2012
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mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120. where did you get that sweater vest? your ford dealer. >>> we practice buying homework not buying whole. people are eating diets with more and more meat which requiring more grain. that is a huge trend but itself it is not enough to own the stocks at any given moment. like i told you last friday, the fertilizer plays are real wild traders. mosaic sells two of three primary
mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of...
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Sep 24, 2012
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mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? >>> welcome back to "fast money." i have a quick market flash for you on google hitting new all time highs today in the session and in the after hours session trading at 750 up about .1%. what the break down is bullish on the name raising the price target. positive on the stock because it is stream lining the mobility unit and saying it might be willing to sell its home segments. those are two reasons to like google. >> thank you very much. what do you do with google at this point? >> i would take a look at money calls and see if there is anything pumped up there. >> classic example of the performance. the run has been entirely in the third quarter. this is a stock that was down significantly for the year. i think this is end of quarter window dressing, folks wanting to have the name on their sheets. >> it suffered when facebook went public. >> t
mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? >>> welcome back to "fast money." i have a quick market flash for you on google hitting new all time highs today in the session and in the after hours session trading at 750 up about .1%. what the break down is bullish on the name raising the price target. positive on the stock because...
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Sep 25, 2012
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the political subtext is watching this man, bill clinton, introducing barack obama. the relationship between those two, so tense and fraught back in 2008. politically much improved here in 2012, even mitt romney acknowledged that earlier in his remarks to the clinton global initiative, saying an introduction by bill clinton alone is probably worth a bump in the polls, even for mitt romney. a political subtext to an important topic. >> do you think president obama was upset that bill clinton allowed mitt romney to speak? >> reporter: if he does, he'll keep it quiet. he needs bill clinton. bill clinton came through at democratic convention and that has commented what's an interesting relationship between the obama camp and clinton camp inside the democratic party. now we've heard comments from bill clinton saying he's not sure if hillary clinton will run for president in 2016. clearly the clintons are keeping that door open, depending, obviously, what happens here in 2012 and where hillary clinton goes over the next four years. there's a lot at stake here, guys, in the
the political subtext is watching this man, bill clinton, introducing barack obama. the relationship between those two, so tense and fraught back in 2008. politically much improved here in 2012, even mitt romney acknowledged that earlier in his remarks to the clinton global initiative, saying an introduction by bill clinton alone is probably worth a bump in the polls, even for mitt romney. a political subtext to an important topic. >> do you think president obama was upset that bill...
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Sep 28, 2012
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. >> everybody in cleveland, no minority got obama for. >> obama phone. she's talking about a real government program that subsidizes cell phones for the poor. guess what? you might be paying for it. did you know that? i'll speak with a congressman about how he's trying to reign it in next. >>> then, think about a 75% tax rate. that could be a reality in france. the question is whether it could happen here. a mitt romney supporter gives us her take in a few minutes. >>> and he's the head of one of the richest sovereign wealth funds. he sits down with me for an exclusive in a few minutes. he owns a number of banks. find out where he's investing. back in a moment. tdd#: 1-800-340 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd
. >> everybody in cleveland, no minority got obama for. >> obama phone. she's talking about a real government program that subsidizes cell phones for the poor. guess what? you might be paying for it. did you know that? i'll speak with a congressman about how he's trying to reign it in next. >>> then, think about a 75% tax rate. that could be a reality in france. the question is whether it could happen here. a mitt romney supporter gives us her take in a few minutes....
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. >>> will republicans give in on tax hikes if president obama wins re-election? our guest next says yes, and he's a republic. tom cole will explain why he thinks the norver tax pledge will be out the window. >>> only apple could sell 5 million new apple iphones and disappoint investors. [ male announcer ] this is anna, her long day teaching the perfect swing begins with back pain and a choice. take advil, and maybe have to take up to four in a day. or take aleve, which can relieve pain all day with just two pills. good eye. ♪ ♪ [ male announcer ] how do you engineer a true automotive breakthrough? ♪ you give it bold new styling, unsurpassed luxury and nearly 1,000 improvements. introducing the redesigned 2013 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good
. >>> will republicans give in on tax hikes if president obama wins re-election? our guest next says yes, and he's a republic. tom cole will explain why he thinks the norver tax pledge will be out the window. >>> only apple could sell 5 million new apple iphones and disappoint investors. [ male announcer ] this is anna, her long day teaching the perfect swing begins with back pain and a choice. take advil, and maybe have to take up to four in a day. or take aleve, which can...
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Sep 26, 2012
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and to get the ceo on, to answer these things is a lot better than just saying, hey, listen, when is obama going to create jobs or is romney going to create jobs because we don't know that. they did say, bears are concerned that the outsourcing payroll market is saturated and that's why you are focused on the ancillary businesses that you are hiring for. >> we just don't see it that way. even with low in business starts, there are 750,000 new businesses started every year. when you see that, half of our sales come from new businesses. once you get into the ecosystem, get on payroll, we can sell you all of the other products. we feel good about paychex. >> i have a couple businesses that i'm involved in where i use paychex. it's amazing, all of the other small business people that i talk to say, look, i don't want to hire anybody right now. i'm talking about somebody who's got some means, who wants to hire two or three people. i'm just stopping that. is that part of the problem? people who have got some means, who would normally doll something and they are the ones holding back or is someon
and to get the ceo on, to answer these things is a lot better than just saying, hey, listen, when is obama going to create jobs or is romney going to create jobs because we don't know that. they did say, bears are concerned that the outsourcing payroll market is saturated and that's why you are focused on the ancillary businesses that you are hiring for. >> we just don't see it that way. even with low in business starts, there are 750,000 new businesses started every year. when you see...
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Sep 24, 2012
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i think obama has a slight lead. when you look at the middle class, obama leads 19% among those who stand up -- who think he stands up best for the middle class. 19%. but if you ask middle class people who they favor, it's even. 4 48-48. and if you ask something called middle class families, married with kids, middle class families give romney a 14-point lead. now, that tells you there's a lot of movement inside these categories. and i think generically the president's taken a slight lead but it's still a real horse race. >> the first debate on october 3rd, how often are they game changers with six weeks left in the cycle? >> you know, my experience is not that often. mostly -- they're so well-rehearsed. they play defense and don't like to make bold statements. now something might really come out of this thing. but i don't see it as kennedy/nixon or reagan/carter. but who knows? those are the two exceptions. but i think mitt romney is an underrated debater. he may not be as sophisticated as president obama, but i wat
i think obama has a slight lead. when you look at the middle class, obama leads 19% among those who stand up -- who think he stands up best for the middle class. 19%. but if you ask middle class people who they favor, it's even. 4 48-48. and if you ask something called middle class families, married with kids, middle class families give romney a 14-point lead. now, that tells you there's a lot of movement inside these categories. and i think generically the president's taken a slight lead but...
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Oct 1, 2012
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and the market may or may not be pricing in an obama re-election. that's all going to potentially change during the debates. it will either go higher or lower. i think at the end of the day, the election is a short term mover of the marketplace and we would look for that volatility to add positions that we have a lot of conviction in. >> we've got to leave it there. tom, leo, thank you very much for kicking off our show. >> thank you very much. >>> so, what are you, america, doing with your money. how are you changing your investments, your 401(k). right? a lot? a little? not at all? we make our tests hard here on street signs. you can go to streetsigns.cnbc.com. or tweet us your responses or send a very well trained pigeon. >> yes. >>> a market flash not delivered by pigeon but by word of mouth. >> good afternoon, guys. we're watching shares of service now, ticker now. looking at a downgrade from ubs. they took the stock from neutral to sell with a price target of $28. the firm is saying while they aren't questioning the strong fundamentals, they d
and the market may or may not be pricing in an obama re-election. that's all going to potentially change during the debates. it will either go higher or lower. i think at the end of the day, the election is a short term mover of the marketplace and we would look for that volatility to add positions that we have a lot of conviction in. >> we've got to leave it there. tom, leo, thank you very much for kicking off our show. >> thank you very much. >>> so, what are you,...
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health care, obama 45, romney 32. perhaps there's inroads romney could make on the meter which is about in the 10% to 15% range. the deficit, the one issue of the eight categories where romney wins it but look at the huge margin. 73% of the public says it's worse than four years ago. flthis side, romney has a slight edge thank you for going backward, brian. one other issue i want to show you here, america's standing in the world, a lot of talk with the u.n. and issues of foreign policy, overwhelming margins americans think our standing in the world is worse than it was four years ago. flip on over, who is better? obama, 44-32, again, romney's support never goes above about 38% but that neither remains around 10, 11 or 12%. i want to show you the three categories where americans say things are not worse, stocks, 34% say things are better than they were four years ago, that's really interesting. i'll get more into this at 10:00. the s&p over the past four years is up 80% but only 34% of americans say their stocks are be
health care, obama 45, romney 32. perhaps there's inroads romney could make on the meter which is about in the 10% to 15% range. the deficit, the one issue of the eight categories where romney wins it but look at the huge margin. 73% of the public says it's worse than four years ago. flthis side, romney has a slight edge thank you for going backward, brian. one other issue i want to show you here, america's standing in the world, a lot of talk with the u.n. and issues of foreign policy,...
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mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. >>> welcome back. it's not hard to tell when hedge fund manager david einhorn told investors today that he thinks chipotle's stock is short. my next guest couldn't disagree more with the short call. he's damon vickers. good to have you on the program, damon. thanks for joining us. why do you think you're right? >> well, yeah, you named it. look, i think we own chipotle. we also own yum brands. his assertions, one by one, seem kind of an empty bag. they don't really hold much water. >> so let's talk about some of those assertions, damon. einhorn is citing competition from taco bell as part of his reason for recommending the short of chipo
mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. >>> welcome back. it's not hard to tell when hedge fund manager david einhorn told...
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swing states, they favor the obama. the debate starts wednesday at 8:00 p.m. eastern. >>> and if president obama is reelected, one of the first job may be to find a replacement for geithner. the wall street journal reports the white house chief of staff jack lew and former clinton chief of staff are two top candidates. both budget experts and could play a major role in the looming fiscal cliff. >>> nokia's into another big customer for its mapping software. the "wall street journal" says the company will unveil a deal with oracle today in san francisco. nokia also recently signed deals with groupon and amazon. nokia a got into the map business with it purchase and has been expanding the service. and back to the banks, shares in banco have been suspended. the bank has announced it will report record write downs of 9.3 billion euro this is year and have suspended its dividend this month. julia has more reaction to what they're saying. they'll launch the share increase by mid november. do you think they can avoid having to
swing states, they favor the obama. the debate starts wednesday at 8:00 p.m. eastern. >>> and if president obama is reelected, one of the first job may be to find a replacement for geithner. the wall street journal reports the white house chief of staff jack lew and former clinton chief of staff are two top candidates. both budget experts and could play a major role in the looming fiscal cliff. >>> nokia's into another big customer for its mapping software. the "wall...
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they're hearing president obama does not have the answer. they hear from the other side that neither does mitt romney. they're scared. so many of our clients have actually been on the sidelines. this has been a relatively low volume rally. i think it still has legs. i think multiples are reasonable and there's still room to go. >> that's what we have pondered here lately, dick. is this sort of stealth rally, as i called it before -- here we sit near 5 1/2 rear hiyear high the market, even as we worry and wring our hands over those issues. why do you think that is? >> well, i think that investors have been through a difficult decade, especially equity investors in the united states have suffered some real turmoil in their returns, and they've been bombarded by these messages that generate fear. they're legitimate concerns. the world is a very uncertain place. so we're telling -- >> who's buying -- that's the question, who's doing the buying right now? >> i don't think i have a perfect answer for you on that. i can't identify all the buyers ou
they're hearing president obama does not have the answer. they hear from the other side that neither does mitt romney. they're scared. so many of our clients have actually been on the sidelines. this has been a relatively low volume rally. i think it still has legs. i think multiples are reasonable and there's still room to go. >> that's what we have pondered here lately, dick. is this sort of stealth rally, as i called it before -- here we sit near 5 1/2 rear hiyear high the market, even...
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Sep 24, 2012
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>> i think that obama with apple could they sell five million and not be disappointing. only with apple could you read that everybody didn't have enough iphones and yet we decided that the iphone is not popular. this is kind of the culture of stock run up, stock come back apple that has been with us ever since it started the move and people abandon apple every time there is a negative headline. >> there is an article today in the "new york times" with apple, will they be the first to break 1 million? >> i think the quarter is going to be better than expected. people aren't focused on that right now. they are focused on the line. i don't want a club that wants me. in the end, apple can stall out and still do well. that's always been something that people can't figure out. how could a stock stall out and go down and still be good? and that's apple. >> jim, we've got to run but what would be the turning point if there was one? people are starting to talk this way. >> what would make it feel like that this is no good anymore would be a sudden surge in samsung phones because
>> i think that obama with apple could they sell five million and not be disappointing. only with apple could you read that everybody didn't have enough iphones and yet we decided that the iphone is not popular. this is kind of the culture of stock run up, stock come back apple that has been with us ever since it started the move and people abandon apple every time there is a negative headline. >> there is an article today in the "new york times" with apple, will they be...
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for the sake of a bit of background for the viewers, obviously, it working group created by president obama to try go after wrong doing that led to the financial crisis, you are saying it could be the first of many, say this will set a litmus test or precedent for further cases? >> i would assume enforcement actions along the line. >> frustrating thing about the crisis and the aftermath, the cleanup phase is obvious, things don't get fixed, don't get address ready. in 2006, looking at the databases that contained the loans and securitizations, it was nuts what we were seeing, very high debt-to-income ratios, steep payment resets. these loans were made to default, either investors looked the other way, play is been some of that or not enough due diligence or misrepresentation what was in the trusts, doesn't surprise me these actions are being brought. does surprise any is so long after after. >> i don't think it will hinder jpmorgan chase's abilities to make loans. i'm not sure i would draw this connection. it underscores a broader point we want the institution and lending and enforcement ef
for the sake of a bit of background for the viewers, obviously, it working group created by president obama to try go after wrong doing that led to the financial crisis, you are saying it could be the first of many, say this will set a litmus test or precedent for further cases? >> i would assume enforcement actions along the line. >> frustrating thing about the crisis and the aftermath, the cleanup phase is obvious, things don't get fixed, don't get address ready. in 2006, looking...
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something for candidates romney and obama in today's data. you can imagine romney pounding on the weak growth and obama saying hey, 286,000 more jobs out there and there's also something for bulls and bears but not much anybody from a sober analysis this remains a weak growth economy. melissa? >> thank you very much, steve liesman. >>> and from the u.s. to spain, let's head across the atlantic for more on spain's budget as the country hopes to avoid a bailout. steve sedgwick joins us live with the very latest. steve. >> reporter: yeah, thanks very much, indeed. we just heard literally in the last 20 minutes or so that the press conference, the announcement about this austerity that we've been waiting for all day will now get the conference in around about an hour's time. so all should be revealed about what rajoy intends to do. in the next stage of austerity. because i think the next stage because there's already been at least four bouts of austerity from this government since it came in in december last year. the last was a 2012 budget which
something for candidates romney and obama in today's data. you can imagine romney pounding on the weak growth and obama saying hey, 286,000 more jobs out there and there's also something for bulls and bears but not much anybody from a sober analysis this remains a weak growth economy. melissa? >> thank you very much, steve liesman. >>> and from the u.s. to spain, let's head across the atlantic for more on spain's budget as the country hopes to avoid a bailout. steve sedgwick...
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Sep 27, 2012
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because this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16% to 18% to 21%. that has created a slight inflation issue. now, pensions are inflation linked. and this country in november has to increase pension abouts by inflation. so by raising 2.5 billion euro v.a.t., it will cost them 3.5 billion euro misincreased pension costs. so you can see the conundrum. they're enacting enormous amounts of austerity, but that's denting an economy which is already in recession. its second since 2008. and things are getting worse. 25% unemployment, a million up sold homes. and we haven't even talked about the banking crisis and the autonomous region, some of which including catalonia are looking trying to get some form of assembly. it is a toxic mix. >> imagine that there will be pressure on markets as this they think unfolds. we're also counting down to the wire here of cour
because this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16% to 18% to 21%. that has created a slight inflation issue. now, pensions are inflation linked. and this country in november has to increase pension abouts by inflation. so by raising 2.5 billion euro v.a.t., it...
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dodd-frank same thing, obama care similar. there's this cadre of people writing the laws of our country without input from at least half the country. >> what's the most important thing you think needs to be tackled head on. you think the fiscal cliff is the first issue? >> there are a multiple of issues that have to be acted on and obviously the fiscal cliff is a very important one. the trouble is the fiscal cliff is probably too easy to solve and kick down the road, and so therefore i doubt we would be in the fiscal cliff. i'm not sure, to be honest with you, that a fiscal cliff falling off the edge is not exactly what america needs. >> is this a wake-up call do you think at this point? it's a pretty severe wake-up call to get. >> you're describing a wake-up call to rip van winkle. how many years have we been kicking the khan down the road. that's a wake-up call for rip van winkle, somebody who has been sleeping for a multitude of years. >> you're suggesting play with fire a little bit? >> i'm suggesting that i'm interested i
dodd-frank same thing, obama care similar. there's this cadre of people writing the laws of our country without input from at least half the country. >> what's the most important thing you think needs to be tackled head on. you think the fiscal cliff is the first issue? >> there are a multiple of issues that have to be acted on and obviously the fiscal cliff is a very important one. the trouble is the fiscal cliff is probably too easy to solve and kick down the road, and so...
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bernanke will stay on if barack obama is reelected. on the right-hand side we see potential romney cabinet selections, glenn hubbard, he's been an economic adviser to both romney's presidential campaigns, last time and again this time, and john taylor at stanford university is also somebody who is mentioned frequently. look at state department as well that's obviously one that is a moving part right now because this interesting tension in washington on the obama side if he's reelected between john kerry who might have done himself some good with his speech at the democratic national convention, and susan rice is somebody who is often mentioned. now, this recent flap over libya and what the united states said or did not say about the situation there might have damaged her prospects a little bit. we'll have to watch that one, on the romney side robert zoellick, former world bank president and richard haass, president of the council of foreign relations mention there had and treasury secretary we talked about some of the names for the oba
bernanke will stay on if barack obama is reelected. on the right-hand side we see potential romney cabinet selections, glenn hubbard, he's been an economic adviser to both romney's presidential campaigns, last time and again this time, and john taylor at stanford university is also somebody who is mentioned frequently. look at state department as well that's obviously one that is a moving part right now because this interesting tension in washington on the obama side if he's reelected between...
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it was president obama that led them through bankruptcy. let's not forget secondly that taxpayers are still on the hook for a $25 billion loss out of an $85 billion investment and let's not forget what you had over the last few years is government policies out of the obama administration that will make the auto industry less competitive in the long run because what they have done is made it harder to manufacture in the united states and harder to create jobs here and if we're going to have a u.s. auto industry that is sustainable in the long run, what mitt romney is committed to, we have to change policy and that's what mitt romney will do. >> the argument might ring hollow to someone who is an auto worker in ohio who is suddenly getting more hours, right, the overtime that he hadn't gotten the last three years. >> well, ultimately that's want because of what the president did. we don't believe it is because of what the president did. we believe it is because of the resilience of the american people. the question is what's going to get the
it was president obama that led them through bankruptcy. let's not forget secondly that taxpayers are still on the hook for a $25 billion loss out of an $85 billion investment and let's not forget what you had over the last few years is government policies out of the obama administration that will make the auto industry less competitive in the long run because what they have done is made it harder to manufacture in the united states and harder to create jobs here and if we're going to have a...
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mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> as we hit new record mortgage rates, i just sat down with the ce
mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm...
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. >> is there a point at which you see obama in the polls and you say actually now i believe that we are going to get the tax hikes and the market should fall? there must be a watershed quite soon as we head towards particularly what happens in the house and the senate. >> our focus has been on the senate. we think that's what's going to mostly influence the outcome. i hope there's appetite to see the rates low. i don't see a benefit from raising them. i would call a coin toss on the senate outcome. but wiser minds will see the wisdom of helping the fed in its efforts to stimulate asset prices by not onerously raising taxes on the most important asset class other than homes. >> have you actually calculated a number? you said it would give back some of the rally. but is there a number or a percentage? >> 12-month price target is 1,500. we've written in our research that 1,600 would be a reasonable 2013 end. i need to see an acceleration in global growth. >> contingent on both, not just the tax issue? >> both. somewhere between 1,500 and 1,600. >> david, thank you for being with us. >>
. >> is there a point at which you see obama in the polls and you say actually now i believe that we are going to get the tax hikes and the market should fall? there must be a watershed quite soon as we head towards particularly what happens in the house and the senate. >> our focus has been on the senate. we think that's what's going to mostly influence the outcome. i hope there's appetite to see the rates low. i don't see a benefit from raising them. i would call a coin toss on...